Madoff to plead guilty

[Octoberbaby]

Yeah, but he's put everything into his wife's name, saying that this was all separate from the corporation.

You can't just put something in someone else's name and that is the end of it. If the woman did not inherit money and never earned a dime on her own then how did she get all those millions and a 7mill penthouse? The authorities will be exploring this.

[Octoberbaby]

Check out today post looks like they're going to go after his POS family members including his whore err I mean wife.

Good!

[Jersey Yankee]

You can't just put something in someone else's name and that is the end of it. If the woman did not inherit money and never earned a dime on her own then how did she get all those millions and a 7mill penthouse? The authorities will be exploring this.

You have a good point. The "ill-gotten gains" thingy isn't transferrable.

If the money is forfeitable, then I want them out on the street panhandling, then even take that from 'em.

I still want to know where those investments went. Supposedly, he had to keep getting new investors for when others cashed out. But what happened to the money beyond this? The houses, trips, cars, boats, other investments?

We need a few chimpanzees to run ape sh!t on all of 'em.

[penguin4]

It's possible, Pig. I might be bluffing. It's conceivable, you miserable, vomitous mass, that I'm only lying here because I lack the strength to stand. But, then again... perhaps I have the strength after all.

Drop.
Your.
Sword.


It's a good thing this thread wasn't hijacked...

[4bronxbombers]

Check out today post looks like they're going to go after his POS family members including his whore err I mean wife.

Good because it's completely unfair if nothing happens them.

[Pinstripedbass]

Madoff should be sentenced to live in a slum in a place like South Bronx or Irvington, NJ. He should be made to do it on $25,000 a year.

Just like Joe Pesci in "The Super".

[ny]

Good because it's completely unfair if nothing happens them.

Something will happen to them, either jail or you have to think that one of Madoffs victims will deliver a little payback especially since rumors abound that Madoff had laundered money for the Russian mob for years.

[Yankee Tripper]

I don't wish him any physical harm but I do hope he spends the rest of his days behind bars and that they sieze not only his assets but the assets of his wife and any ill gotten gains his family has reaped over the last 10+ years.

[jlw1980]

Drop.
Your.
Sword.


It's a good thing this thread wasn't hijacked...

Have a seat.

Tie him up. Feel free to make it as tight as you like.

[Octoberbaby]

I heard on TV that the reason Madoff agreed to a guilty plea is to avoid a jury trial. That's a good move on his part. It would be hard to get a jury pool that doesn't want him strung up!

[JL25and3]

I heard on TV that the reason Madoff agreed to a guilty plea is to avoid a jury trial. That's a good move on his part. It would be hard to get a jury pool that doesn't want him strung up!

But the jury usually doesn't do the sentencing, do they?

[Octoberbaby]

But the jury usually doesn't do the sentencing, do they?

I have seen some instances where the jury decides the sentance, as in whether someone gets life in prison or the death penalty.

[Jersey Yankee]

Madoff should be sentenced to live in a slum in a place like South Bronx or Irvington, NJ. He should be made to do it on $25,000 a year.

Just like Joe Pesci in "The Super".

From what I remember about that movie, it was based upon a real NYC building owner dubbed the "Dracula" slumlord by the judge, around 1987 or so. There was no heat or hot water, huge rats, broken doors & windows, and the guy refused to make repairs. So the judge sentenced the guy to live in the most notorious of the apartments until every single one was repaired. That sentence was hugely successful amongst regular people.

[JL25and3]

I have seen some instances where the jury decides the sentance, as in whether someone gets life in prison or the death penalty.

But only in capital cases.

[Mark19]

http://news.bbc.co.uk/2/hi/business/7939079.stm

Between 1999 and 2008 Mr Markopolos, who worked for a rival firm of Madoff's, made increasingly detailed submissions to the SEC which illustrated how Madoff's fund simply couldn't be for real.
As he told Congress in February: "I gift-wrapped and delivered the largest Ponzi scheme in history to them."
Yet the SEC seemed unwilling or unable to act on Mr Markopolos's information, a fact that has led to some of the fiercest criticism it's ever faced.
After Mr Markopolos testified, the House Financial Services committee heard from the department heads of the SEC.
It's said that compared with the British House of Commons, the US congress is much less adversarial and aggressive. If true it doesn't apply to committee hearings.
For hours the SEC department heads were excoriated for their treatment of the Madoff case.
At one point, Representative Gary Ackerman, of New York yelled at them: "You couldn't find your backside with two hands if the lights were on."

[thecaptain]

......A U.S. District judge ordered disgraced financier Bernard Madoff jailed immediately and revoked his bail, the Wall Street Journal reported on its Web site Thursday. Madoff had been under house arrest in his Manhattan penthouse and faces a maximum sentence of 150 years in prison at sentencing which is set for June 16. The disgraced financier earlier Thursday pleaded guilty to 11 felony counts,

[R.V.47]

I heard on TV that the reason Madoff agreed to a guilty plea is to avoid a jury trial. That's a good move on his part. It would be hard to get a jury pool that doesn't want him strung up!

The judge does the sentencing regardless, unless its a death penalty case. He didnt want to do a jury trial IMO because hes protecting his sons and his wife, he didnt want to be called to testify and perhaps give up information about them. I find it hard to believe that his sons who worked for his company didnt know what was going on.

[LDG]

And this from his lawyer:

"After arguments began on whether Madoff should remain free on bail, his lawyer Ira Sorkin described the bail conditions and how Madoff had, "at his wife's own expense," paid for private security at his penthouse. Loud laughter then erupted among some of the more than 100 spectators crammed into the large courtroom on the 24th floor of the federal courthouse in lower Manhattan."

At his wife's own expense???? Riiiiight.

http://news.yahoo.com/s/ap/20090312/...mnIQ6Kqup34T0D

[Octoberbaby]

The judge does the sentencing regardless, unless its a death penalty case. He didnt want to do a jury trial IMO because hes protecting his sons and his wife, he didnt want to be called to testify and perhaps give up information about them. I find it hard to believe that his sons who worked for his company didnt know what was going on.

Oh, OK then that is the reason. I was wondering why he would care about a jury trial or not.

[Octoberbaby]

And this from his lawyer:

"After arguments began on whether Madoff should remain free on bail, his lawyer Ira Sorkin described the bail conditions and how Madoff had, "at his wife's own expense," paid for private security at his penthouse. Loud laughter then erupted among some of the more than 100 spectators crammed into the large courtroom on the 24th floor of the federal courthouse in lower Manhattan."

At his wife's own expense???? Riiiiight.

http://news.yahoo.com/s/ap/20090312/...mnIQ6Kqup34T0D

What a joke! Who do they think they are kidding anyway?

[4bronxbombers]

And this from his lawyer:

"After arguments began on whether Madoff should remain free on bail, his lawyer Ira Sorkin described the bail conditions and how Madoff had, "at his wife's own expense," paid for private security at his penthouse. Loud laughter then erupted among some of the more than 100 spectators crammed into the large courtroom on the 24th floor of the federal courthouse in lower Manhattan."

At his wife's own expense???? Riiiiight.

http://news.yahoo.com/s/ap/20090312/...mnIQ6Kqup34T0D

Yeah, like who the heck is going to belive that bullsh*t? His wife's own expenses....what a freakin joke.

[jlw1980]

Yeah, like who the heck is going to belive that bullsh*t? His wife's own expenses....what a freakin joke.

Wonder where she got the money...

[JL25and3]

The judge does the sentencing regardless, unless its a death penalty case. He didnt want to do a jury trial IMO because hes protecting his sons and his wife, he didnt want to be called to testify and perhaps give up information about them. I find it hard to believe that his sons who worked for his company didnt know what was going on.

That's also why he pled guilty without a plea bargain. Not only does he not have to testify against them - he can actually be called as a defense witness to testify that he did it all himself.

[SalingerNY]

As much as I dislike this dude, it was bizarre watching the news this morning. Somebody had a helicopter following his car from his home to the courthouse. That was really unnecessary.

[SoCal Pinstriper]

As much as I dislike this dude, it was bizarre watching the news this morning. Somebody had a helicopter following his car from his home to the courthouse. That was really unnecessary.

They needed to follow the car because of the slim possibility that someone might try to inflict harm on him in transit. If that had taken place, and there was no video, the producers who OKed the decision not to follow the car would have been immediately canned.

Such is the sad current state of our news media.

[jlw1980]

They needed to follow the car because of the slim possibility that someone might try to inflict harm on him in transit. If that had taken place, and there was no video, the producers who OKed the decision not to follow the car would have been immediately canned.

Such is the sad current state of our news media.

Too bad it didn't happen.

[Jersey Yankee]

http://www.nypost.com/delonas/2009/03/03122009.jpg

[Jersey Yankee]

As much as I dislike this dude, it was bizarre watching the news this morning. Somebody had a helicopter following his car from his home to the courthouse. That was really unnecessary.

News chopper or NYPD chopper?

[Octoberbaby]

That's also why he pled guilty without a plea bargain. Not only does he not have to testify against them - he can actually be called as a defense witness to testify that he did it all himself.

I suppose he is patting himself on the back for protecting his own family.

[Jersey Yankee]

I suppose he is patting himself on the back for protecting his own family.

I just wish the judge had frozen all of the assets of all the family members, just to see where the paper trail led. A very long and thorough investigation would've helped certainly.

[GiambiRocks]

Seems like the government is going to go full force to get Ruth's Manhattan penthouse and $62 million. Prosecutors have filed their intent to seek forfeiture of the couples' homes, as well as assets, including their 70 foot yacht, four cars including a BMW and two Mercedes, Ruth's Steinway piano (valued at $39,000), and a silverware set (valued at $65,000).

[4bronxbombers]

Seems like the government is going to go full force to get Ruth's Manhattan penthouse and $62 million. Prosecutors have filed their intent to seek forfeiture of the couples' homes, as well as assets, including their 70 foot yacht, four cars including a BMW and two Mercedes, Ruth's Steinway piano (valued at $39,000), and a silverware set (valued at $65,000).

Absolutely disgusting. She should be in jail too.

[LDG]

Seems like the government is going to go full force to get Ruth's Manhattan penthouse and $62 million. Prosecutors have filed their intent to seek forfeiture of the couples' homes, as well as assets, including their 70 foot yacht, four cars including a BMW and two Mercedes, Ruth's Steinway piano (valued at $39,000), and a silverware set (valued at $65,000).

As well they should!

[ny]

Poor Bernie lost his appeal and will remain at the MCC until sentencing. If you would like to read about Bernies current home google Madoff MCC hell and click on the link to rudy veritas should be the third or 4th link.

[Jersey Yankee]

Poor Bernie lost his appeal and will remain at the MCC until sentencing. If you would like to read about Bernies current home google Madoff MCC hell and click on the link to rudy veritas should be the third or 4th link.

I read about that place, something about 10 South being the worst, and Jr Gotti was there, it almost broke him.

He sits in a tiny cell eating lousy "food" 3x per day, which is shoveled inside a tiny door slit, has a metal toilet and sink, concrete bed, is in his cell 23 hours a day, the windows are blacked out. No thanks.

This caused career offenders to complain of subhuman conditions. How long before he begins babbling to himself? He's just lucky he doesn't have a cellmate.

[ny]

I read about that place, something about 10 South being the worst, and Jr Gotti was there, it almost broke him.

He sits in a tiny cell eating lousy "food" 3x per day, which is shoveled inside a tiny door slit, has a metal toilet and sink, concrete bed, is in his cell 23 hours a day, the windows are blacked out. No thanks.

This caused career offenders to complain of subhuman conditions. How long before he begins babbling to himself? He's just lucky he doesn't have a cellmate.

I think it's fitting that he has to eat rancid maggot infested food and live in subhuman conditions. Hopefully the rest of his Pos family will join him soon.

[4bronxbombers]

What a freakin contrast from the luxury he was used to by after stealing everyone's freakin money. His wife and sons who also benefited from the money pilfering should be in the same kind of living quarters. They are disgusting people - not to far off from the AIG scumbags.

[Octoberbaby]

What a freakin contrast from the luxury he was used to by after stealing everyone's freakin money. His wife and sons who also benefited from the money pilfering should be in the same kind of living quarters. They are disgusting people - not to far off from the AIG scumbags.

I am convinced that his wife knew what was going on full well! She was his Bookeeper after all.

Keeping him in the slammer under such horrible conditions may convince him to come forward and name whoever else was involved in this and where all the money is.

[Jersey Yankee]

I think it's fitting that he has to eat rancid maggot infested food and live in subhuman conditions. Hopefully the rest of his Pos family will join him soon.

Nobody's going to serve him rancid food, which you can't even legally serve to someone as their "last meal" right before an execution. It would robably be some "mystery meat" from the JHS cafeteria. I heard that it's relatively healthy, but of little taste. He shouldn't expect any fancy dessert, nor a bottle of fine wine to wash that all down with either.

They arrested his accountant of 19 years as a co-conspirator, since even a simple accounting audit would've shown that no trades were made. The guy made $180,000+ to basically do nothing.

I'm still waiting for them to arrest his son-in-law who worked at the SEC. To say that he wasn't involved seems beyond laughable to me.

It goes well beyond mind-boggling that he had such huge amounts being invested by individuals, charities, big-name clients who'd invested most or all of their income with him, and so many feeder funds which made commissions when they'd funnelled $$$ to him, yet he never made a single trade over the past 13 or so years.

His "family", if you'll call them that, are just the tip of an iceberg the size of Rhode Island. So many people involved, but only the principal's name is mentioned. I consider this to be a humongous consiracy of epic proportions in the ways it was allowed to continue unnoticed for such a long time, not just a huge scam.

Trust me, if he ever squealed on the long list of names, not only would his family be in danger, even they would turn on him, as he's had ample opportunity to stash hundreds of millions, if not billions, away in foreign accounts over the years. No wonder the judge denied bail.

[yankeesAZ]

This guy deserves the death penalty as much as Ted Bundy did.

[Jersey Yankee]

This guy deserves the death penalty as much as Ted Bundy did.

I'd much rather see the people who were totally wiped out getting money from recovered assets. I mean every single penny that was suposed to put people's kids through college, pay for their dorms, and for them to retire with.

His lawyers claimed he had $820 million in assets, and I think that about $700 mil of that was for the alleged business. He so-called company is now worthless in business value.

He's got hundreds of millions, if not billions, out there. I'm more concerned with recovering what isn't in his name. I wouldn't mind seeing a master private eye seeing what's in his wife's name overseas.

I wouldn't mind that for the rest of their lives, all of them had to live in slumlord buildings while working in a sweatshop.

[yankeesAZ]

I'd much rather see the people who were totally wiped out getting money from recovered assets. I mean every single penny that was suposed to put people's kids through college, pay for their dorms, and for them to retire with.

His lawyers claimed he had $820 million in assets, and I think that about $700 mil of that was for the alleged business. He so-called company is now worthless in business value.

He's got hundreds of millions, if not billions, out there. I'm more concerned with recovering what isn't in his name. I wouldn't mind seeing a master private eye seeing what's in his wife's name overseas.

I wouldn't mind that for the rest of their lives, all of them had to live in slumlord buildings while working in a sweatshop.

That type of punishment would not bother me either.

[4bronxbombers]

He apparently screwed the town of Fairfield, CT. Wow...too bad it took so long and he ripped off so many people before it all caught up to him.

[penguin4]

I think he deserves the punishment quoted in Vicki's signature. Every single f@(k!ng day for the rest of his life.

[RhodeyYankee2638]

Gotta admit, the guy was pretty damn smart

[Jersey Yankee]

He apparently screwed the town of Fairfield, CT. Wow...too bad it took so long and he ripped off so many people before it all caught up to him.

You have a link? What was that, pension funds for teachers and other labor union municipal employees?

[Jersey Yankee]

I think he deserves the punishment quoted in Vicki's signature. Every single f@(k!ng day for the rest of his life.

I'd just prefer that taking his lunch money daily would be fine. That way, he couldn't get any good food, just candy bars.

I just hope that none of them can ever live the good life again.

[4bronxbombers]

You have a link? What was that, pension funds for teachers and other labor union municipal employees?

Now you're gonna make me work and go find it.

It was in the Hartford Courant last week. I'll look for it. Later.

[mjdlight]

Madoff is living in subhuman conditions now, and probably for the rest of what remains of his life.

Honestly, I think I'd choose the death penalty over that, particularly if I were 70 years old. His punishment is fitting.

[Octoberbaby]

Madoff is living in subhuman conditions now, and probably for the rest of what remains of his life.

Honestly, I think I'd choose the death penalty over that, particularly if I were 70 years old. His punishment is fitting.

I am just surprised that he didn't leave the country before confessing to this. He certainly had enough money to live out his life in some other country that does not allow extradition. Could he be that arrogant that he thought he would get a slap on the wrist and that would have been that?